GBP/USD:SELL from 61.8% Dynamic Resistance 50 Moving Av. SHORT

The GBP/USD in the previous sessions had a deep pullback and today the price is approaching Level 61.8% where a confluence of indications can turn the price again in the direction of the main trend. Firstly the price is still in a strong downtrend and over the presence of 61.8% there is also the presence of the dynamic trendline also the stochastic is in the overbought area with divergence. The 50 Moving average, the blue line, can be another resistance for the price to not go over. The financial stimulus of the UK to cut taxes cannot be enough for the pound to start a new bullish impulse.

Comment: